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Boyne Tower

Drogheda, Co. Louth

For Sale
Guide Price: €1,350,000
Property Highlights
High profile centrally located modern office opportunity
Convenient location approx. 2.5 km from the M1 motorway
Extending to approximately 2,183 sq.m. / 23,498 sq.ft. GIA
Approximately 1,307 sq.m. / 14,069 sq.ft. of fitted office accommodation
Approximately 266 sq.m. / 2,858 sq.ft. of retail space set out in shell and core configuration
Genuine asset management opportunity
Total passing rent of €87,340 per annum with potential to generate a yield of approx. 13.5% upon leasing of vacant space
ERV in excess €200,000 per annum
Guide price represents an attractive capital value of €57.50 per sq.ft., significantly below replacement cost
Property Location

Boyne Tower is positioned adjacent to the River Boyne, in central Drogheda, approx. 2.5 km from Junctions 9 and 10 on the M1 motorway and approx. 25 minutes from Dublin airport. Drogheda train station is within 10 minutes’ walk of Boyne Tower, with a 40-minute travel time to Dublin. Drogheda benefits from a wide variety of amenities, to include Drogheda Town Centre shopping centre, St. Dominic’s Park and Drogheda Museum. Restaurant and hospitality offerings include The D Hotel, Boyne Valley Hotel & Country Club and Scholars Townhouse Hotel.

Property Description

The property is a high profile 2,183 sq.m. (approximately. 23,498 sq.ft.) GIA 5-storey over basement building located in the centre of Drogheda. The offices are fitted out to a Grade A standard throughout, with two retail units on the ground floor presented in shell and core specification. There are flexible open plan floor plates with floor to ceiling heights of approx. 2.8 metres and floor to ceiling glazing with views of the River Boyne. Specification includes LED lighting and air conditioning, with a cooling/heating range of 100W - 150W per sq.m. The property also features a 6-person passenger lift. 

 

Lease Terms

The building is let to Outsource Support and IT Governance, with a mast let to Three Ireland, at a total passing rent of €87,340 per annum.

There is opportunity to increase the rental income to over €200,000 per annum upon letting of approx. 1,098 sq. m. (11,819 sq. ft.) of vacant office and retail space.

Property Size/Area
2,183 sq. m. (23,498 sq. ft.) GIA
Property Status
For Sale
VAT
Please Refer to Agent
Energy Performance Indicator
504.84 kWh/m2/yr 1.43kWh/m²/yr
BER Number
800229528
BER Grade
Location Map

53.713189, -6.349337

Documents

QRE Contact

Stephen Mellon MRICS MSCSI
Senior Surveyor
David O Malley MRICS MSCSI
Divisional Director
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